Jon Leibowitz

Senate Democrats are asking the Federal Trade Commission to investigate potential price fixing by oil refiners allegedly cutting back their production of refined gasoline to restrict U.S. fuel supplies.

“At a time when major refiners and oil companies are making record profits and American families continue to struggle with gasoline at record prices the idea that refiners may be manipulating the market to keep prices artificially high goes beyond reproach,” Sens. Charles E. Schumer and Claire McCaskill wrote in a letter to the FTC.